At 13.5% CAGR, the Europe Vital Signs Monitoring Devices Market Is Projected to be Worth US$ 22,285.46 Million by 2030, Says Business Market Insights

According to Business Market Insights research, the Europe vital signs monitoring devices market was valued at US$ 8,101.12 million in 2022 and is expected to reach US$ 22,285.46 million by 2030, registering a CAGR of 13.5% from 2022 to 2030. Rise in need for remote patient monitoring are among the critical factors attributed to the Europe vital signs monitoring devices market expansion.

The demand for vital signs monitoring devices surged exponentially during the COVID-19 pandemic. Moreover, there was a sudden increase in Medicare Advantage claims during the COVID-19 pandemic. Remote patient monitoring has replaced conventional methods of monitoring patients' vital signs. The popularity of digital health has led to a rise in home care services, creating tremendous demand for devices such as pulse oximeters, BP monitors, and thermometers in homecare settings. Home healthcare has led to enhanced efficiency and cost-effectiveness in healthcare systems worldwide in the last few years. Similarly, the demand for remote patient monitoring increases with the growing preference for home care settings for the geriatric population and for people with critical conditions who require monitoring post-hospital care.

Advancements such as wireless technologies and wearable devices have improved interoperability among healthcare professionals and scalability among patients. These devices have made it easy to monitor heart conditions, weight gain/loss, blood pressure, sleep apnea, asthma, and chronic obstructive pulmonary disease. In addition, the requirement for remote vital signs monitoring devices grew during the COVID-19 crisis owing to a shift in consumer preference toward telehealth. The use of telehealth resulted in a significant decrease in the frequency of hospital visits and optimized the use of healthcare resources, making healthcare more sustainable. Additionally, people in rural and urban areas are becoming highly aware of telehealth services due to the influence of social media and favorable initiatives by healthcare facilities.

On the contrary, product recalls by companies and regulatory authorities hampers the growth Europe vital signs monitoring devices market.

Based on product, the Europe vital signs monitoring devices market is segmented into pulse oximeters, blood pressure monitors, temperature monitoring devices, and glucose monitoring devices. The glucose monitoring devices segment held 66.1% share of the Europe vital signs monitoring devices market in 2022, amassing US$ 5,358.08 million. It is projected to garner US$ 13,167.60 million by 2030 to expand at 11.9% CAGR during 2022-2030. The glucose monitoring devices segment is further bifurcated into self glucose monitors and continuous glucose monitors. Additionally, the pulse oximeters segment is subsegmented into handheld pulse oximeters, table-top pulse oximeters, and pulse oximeter accessories. The temperature monitoring devices segment into digital thermometers, infrared thermometers, mercury filled thermometers, and liquid crystal thermometers. Further, by blood pressure monitoring devices, the market is categorized into digital blood pressure monitors, analog blood pressure monitors, ambulatory blood pressure monitors, mercury blood pressure monitors, and blood pressure instrument accessories.

By end user, the Europe vital signs monitoring devices market is segmented into hospitals & clinics, ambulatory care centers, home healthcare, and other. The hospitals & clinics segment held 49.0% share of Europe vital signs monitoring devices market in 2022, amassing US$ 3,970.94 million. It is projected to garner US$ 11,031.91 million by 2030 to expand at 13.6% CAGR during 2022-2030.

Based on country, the Europe vital signs monitoring devices market is categorized into Germany, France, the UK, Italy, Spain, and the Rest of Europe. Germany held 27.7% share of Europe vital signs monitoring devices market in 2022, amassing US$ 2,247.23 million. It is projected to garner US$ 6,321.48 million by 2030 to expand at 13.8% CAGR during 2022-2030.

Key players operating in the Europe vital signs monitoring devices market are Koninklijke Philip NV, Medtronic Plc, Nihon Kohden, GE HealthCare Technologies Inc, OMRON corp, Masimo Corp, Nonin Medical Inc, Contec Medical Systems Co Ltd, and Baxter Intonational Inc, are among others.

• In Jun 2022, GE Healthcare introduced Portrait Mobile, a wireless patient monitoring system that enables continuous monitoring throughout a patient's stay. The system helps clinicians detect patient deterioration. Early detection of patient deterioration can help reduce length of stay and ICU admissions improving patient outcomes.
  
  
• In Aug 2021, Nihon Kohden acquired Advanced Medical Predictive Devices, Diagnostics and Displays, Inc. ("AMP3D"). AMP3D's CoMET (Continuous Monitoring of Event Trajectories) decision support software uses patients' continuous monitoring data, medical records, vital signs, and laboratory tests to display the patients' real-time and continuous risk trajectories. Integrating this technology will allow clinicians to monitor potentially catastrophic events and decrease mortality and lengths of stay before they even occur, resulting in better patient outcomes.
  
  
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